Quiz: Do you Know how to get your Credit Report?

For many people, pulling their credit report is be like pulling teeth. For no charge and no penalty to your credit score, you are entitled to a copy of your credit report every year. Take our quiz to see if you know the ins and outs of pulling your credit report and your credit score.

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Question 1 of 20

The three major credit bureaus are Experian, TransUnion and ________.

Equifax

The major credit bureaus are Experian, TransUnion and Equifax.

Transfax

Experfax

Question 2 of 20

What is a hard inquiry of your credit report?

an inquiry by a company that has business with you

A hard inquiry takes place when a company that has business with you inquires about your credit. Hard inquiries may occur when you apply for a new credit card or even do something as minor as order cable services.

an inquiry by a company that has no business with you

an inquiry from you

Question 3 of 20

Why should you limit the number of hard inquiries?

Hard inquiries decrease your credit score.

One hard inquiry will deduct about five points from your total credit score. If you are shopping for debt with several institutions, don't be concerned, as all the inquiries made around the same time period will count together as one inquiry. Try to do your loan shopping within about two weeks, so you won't have points deducted for multiple hard inquiries.

Companies may perform a soft inquiry before sending you an application.

Companies always pull a hard inquiry.

Companies do not check your credit.

Question 6 of 20

If you have been approved for a loan, what else does your credit score influence?

the length of the loan

the interest rate of the loan

Your credit score helps to determine the interest rate you will be charged.

the amount of the loan application fee

Question 7 of 20

How often should you check your credit?

every six months

annually

You should check your credit report at least once a year.

every two years

Question 8 of 20

When you check you own report, what type of inquiry is this?

soft inquiry

Getting your own credit report is considered a soft inquiry.

hard inquiry

neither

Question 9 of 20

How much do you have to pay to do an annual check of your credit report?

nothing

The Fair and Accurate Credit Transactions (FACT) Act allows you to see your credit report from each major credit bureau annually for no charge.

$10 per credit bureau

$50 per credit bureau

Question 10 of 20

How do you get a copy of your credit report?

Go to AnnualCreditReport.com.

The three major credit bureaus set up the Web site AnnualCreditReport.com specifically for consumers to get their free credit reports. You can also call or write to each credit bureau individually. Beware of other Web sites that offer credit reports though; the only truly free site is AnnualCreditReport.com.

Go to GetMyCredit.com.

Go to IRS.gov.

Question 11 of 20

How much does it cost to check your credit report after the annual free report?

10

15

Subsequent credit reports cost about $15 each. This may be a small price to pay to protect your credit score.